Binance Labs has announced an investment in Quine Co., the core development team behind Perena, to support the creation of the first stablecoin infrastructure protocol on Solana. Perena aims to enhance the stablecoin ecosystem by addressing fragmentation and reducing capital requirements for new stablecoin issuance through its product, Numéraire. This product is a multi-token extension of Stableswap, allowing users to mint stablecoins, earn returns on tokenized real-world assets, and customize risk-return configurations. Binance Labs' investment will help Perena scale operations, grow a global community, and develop a comprehensive stablecoin product suite on Solana.

PANews reported on December 11 that Binance Labs announced an investment in Quine Co., the core development team of Perena, to support its efforts to build the first stablecoin infrastructure protocol on Solana. Perena aims to build a more decentralized, efficient and accessible financial system by combining DeFi innovation with traditional financial principles.
 Perena solves the problem of stablecoin ecosystem fragmentation and reduces the capital requirements for new stablecoin issuance through its product Numéraire (a multi-token extension of Stableswap without CLMM management). Users can mint stablecoins, earn returns on tokenized real-world assets, and achieve customized risk-return configurations using a layered collateralized debt position system. Binance Labs' investment will support the Perena team to scale, grow a global community, and build a comprehensive stablecoin product suite on Solana.

Binance Labs Invests in Perena to Boost Stablecoin Adoption on Solana